Inglis introduces alternative cap-and-trade proposal |
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| Written by Love My Equines, on 19-05-2009 06:56 |
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South Carolina Congressman Bob Inglis has introduced legislation he says is a much better alternative to the “cap-and-trade” proposal to control carbon emissions. And he says South Carolina would benefit from its investment in energy research. Inglis, who serves on the House’s Energy and Environment Subcommittee, says the “Raise Wages, Cuts Carbon Act” calls for a reduction in payroll taxes for employers and employees of carbon-emitting companies, in exchange for an equal amount of revenue from a carbon tax, resulting in no change in taxes.
Inglis says the change would also stimulate technology. Inglis says the new bill would not mean a massive tax increase like the Waxman cap-and-trade bill. Inglis says the Waxman cap-and-trade proposal, which now has no Republican support, would also put carbon credit trading in the hands of Wall Street traders, and could hurt U.S. companies competing in a global economy.
Inglis says his proposal would allow investment in new fuels, by holding petroleum and other fossil fuels accountable for their pollution, taking away a free ride that distorts the market.
(thanks to the South Carolina Radio Network)
~by Julie Harker~
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